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Thursday, 11 October 2012 17:29

Frieze Art Fair Kicks Off in London

Committed to showcasing the best in contemporary art, the The Frieze Art Fair decided to mix things up in honor of its tenth anniversary. Taking place from October 11 –14, the fair will exhibit ancient works at the simultaneous inaugural show, Frieze Masters. The fair will feature 96 galleries offering works from the last 4,000 years. While the inclusion of non-contemporary work encourages crossover collecting, it also allows patrons to explore the past’s influence on contemporary art.

Between the Frieze Masters’ exhibitors and the 175 contemporary galleries participating in the fair, there will be a total of $1.5 billion worth of art in London’s Regent’s Park. After last night’s exclusive VIP preview, it seems that collectors are anxious to buy.

One of the first pieces to sell at the fete was Pablo Picasso’s Homme et Femme au Bouquet priced at $8.5 million. An unidentified U.S.-based collector snapped up the painting at Frieze Masters. Over at the contemporary fair, Paul McCartney’s 2012 mixed-media sculpture, White Snow Head, sold within the first ten minutes of the preview for $1.3 million.

Attracting thousands of visitors from around the world including big name collectors such as Martha Stewart, PPR chief executive officer Francois-Henri Pinault, and New York mayor Michael Bloomberg, it will be interesting to see the effect the fair’s widened scope will have on sales.

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